Wednesday, August 11, 2010

Mortgage Cadence attracts investor

Mortgage Cadence, LLC, Denver, a leading provider of Enterprise Lending Solutions (ELS), Loss Mitigation Technology and Document Services for the financial services industry, announced yesterday that Monitor Clipper Partners has invested in the company. That seems like a sure sign that someone thinks the downturn has about played out.

Monitor Clipper Partners (MCP), is a Cambridge, MA-based independent private equity firm formed in 1998. MCP has invested in over thirty businesses in North America and Western Europe over the past decade and has a close strategic relationship with the Monitor Group, a leading international strategy consulting firm founded in 1983 with approximately 1,000 professionals in 29 offices worldwide. MCP targets growth-oriented businesses with strong management teams and currently manages over US$2.0 billion in capital.

Berkery Noyes advised Mortgage Cadence on this investment.

According to MCP, its investment in Mortgage Cadence represents the continuation of a long track record of investing in successful mortgage technology companies, including Filogix, a leading provider of loan origination and point-of-sale software in Canada.

According to Mortgage Cadence, this investment will provide the company with the capital to expand its product and service offerings.

“Mortgage Cadence represented a rare opportunity to invest in the leading provider of powerful enterprise technology solutions for financial institutions operating in the mortgage and mortgage services markets,” said Adam Doctoroff, Partner at Monitor Clipper Partners. “The management team has a proven track record of realizing impressive growth and profitability while maintaining the vision to continually adapt to market conditions. With its history of product innovation, deep industry expertise and reputation for service excellence, Mortgage Cadence is well positioned to execute on numerous significant development opportunities including further penetration of their existing solutions, creating new solutions in related areas and acquiring attractive industry players.”

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